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It wasn't the owner of the firm that did it, but the story goes that the owner of the firm encouraged everyone to trade larger and take more risk. One of the traders then put on the massive 600,000 share (or whatever it was, something like that) position that went completely against him. By...

Chalk up one more vote for Linksys. Runs like a champ, very fast and stable. -Jim

I highly recommend ECHOtrade (http://www.echotradeonline.com) for trailing stops. They let you do it both ways, stops that are visible on the exchange and stops that are held off the exchange on the server. They also let you use trailing stops on all NASDAQ stocks. I use them daily and am...

Hitman, I used to use Blue Cross/Blue Shield and was very happy with it. It is a good plan for self-employed traders. Now I trade with Echo and have the Aetna coverage they offer. I like the fact that the premium is paid out of my account every month and I don't have to write a check...

Baron, I am absolutely amazed at how much better your site is than any other message board. I don't bother even reading other message boards anymore, they are pure garbage compared to Elite. You have done a wonderful job of making the site so easy to maneuver and it is just plain easy to...

Fohat, Just for the record, I have never traded with IB but from what I know, I am very impressed that they can offer all they do at the rates they do. Clearly this isn't easy as no one else does it. If I were non-pro, I would undoubtedly trade with IB. Most of the pro firms cannot (or...

Just wanted to disagree with Fohat on a few points: IB undoubtedly has great rates, very comparable to pro firms. As for any other EDAT firm, as far as I can tell the pro firms win in low cost. There are many pro firms that have guys that trade for less than a penny per share with no ticket...

Leland, I have mainly used ECHOtrader for trading, and First Alert for quotes. In the last few weeks I started playing with First Alert for sending orders as well. I am very impressed with First Alert's order entry, it is also smoking fast and has a lot of cool features that are very...

Gene, I just called Echotrade and confirmed, their QQQ orders go to the Amex (they also let you preference ISLD or NYSE if you want), and they have never been hit with cancel charges. According to the guy I spoke with, they have some traders that do a big volume in the QQQ's and have never...

This is going to sound very strange to a lot of people, and I'll probably take a lot of flak for saying this, but I actually like the uptick rule. The way I figure it: All traders can chase a stock up and compete on a fairly level playing field when going long. But less than 25% of all...

I have heard that the QQQ cancel charges only apply to companies that clear with SLK, some kind of minor war between SLK and Susquehanna (the QQQ specialist firm). I have no idea if this is correct or not, but are there any traders here who trade at a firm that does not clear SLK that has been...

Why would they even want to do this without using investment professionals? I'll bet my dog could've beat whatever clowns they chose to make the computers look good. I'll wait to be impressed. -Jim

I agree with cdntrader and Gene, Daytrading is still the way to go, but you have to know when to sit on your hands. This is the summer to take a vacation, try to preserve capital. Don't think you always have to be clicking away. If you can survive this market, which will come back, you...

Basically I would say, if you have made enough money to back yourself and keep 100%, do that. Otherwise, keep trading there until you do. It is much harder these days to get backed, so if you are backed and you don't have enough dough to do it on your own, don't leave. If you have enough...

I'll place a guess at where you are: You are at Anthony P's operation at the merc.??? (won't say firm name)

I found a picture of Stephen Schonfeld if you guys want to see it. Go here: http://samanthastable.com/eligible.htm He's listed on some kind of dating service under "Eligible men and women of Wall Street." It's alphabetical. He's single if any ladies are interested. He lists his...

Babak, All of these prop and pro firms also make money on their commissions as well as any cut they take of profits. In Echo's case, they make money the same way as IB, give out really good rates to attract the big traders that do a lot of volume and make the money off the commissions...

Ouch! I vote "reemed." In essence you pay 2-cents for a lot of your orders, AND you have to give up 30% of your profits. That is not the absolute worst deal I have heard of, but it is up there. Can I ask what firm you are with? If you would like to compare, here is a link to the fee...

No, ECHO and Bright do not take an extra cut of your profits. This is a margin rate amount that only applies if you take positions home overnight. None of this applies unless you take home greater than 2 to 1 margin overnight, then both firms charge a "haircut", which is similar to a "margin...

That will work fine unless you have a really old computer. (I'd say 4 years old or more). You can mix and match sizes, but make sure you are getting the same of RAM as you are already using. If you have PC-133 DRAM already in, get more of the same. If you have Rambus, get more Rambus. It...